Will Fly Fitness provide an audited statement of the Brand Fund's operations?

According to Fly Fitness's 2024 Franchise Disclosure Document, the franchisor will prepare an unaudited annual statement regarding the Brand Fund's operations. This statement will be made available to franchisees upon request.

This means that while Fly Fitness franchisees contribute to the Brand Fund, they will not receive a fully audited financial statement detailing how the funds are used. Instead, they will receive an unaudited statement, which is prepared by the company without external verification.

An unaudited statement carries the risk of potential inaccuracies or misrepresentations, as it has not been subjected to the scrutiny of an independent audit. A prospective Fly Fitness franchisee may want to inquire about the typical contents of the unaudited statement and the level of detail it provides. They may also want to consider requesting an audited statement to ensure full transparency and accountability in the management of the Brand Fund.